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One-stop service system to facilitate foreign investemnt

Inversiones CubaBeginning 2020 with a one-stop service system for foreign trade in Cuba is essential to attracting more business and increasing investment.

The project, with a precedent at the Mariel Special Development Zone, “will eliminate bureaucracy and delays that exist when granting the required permits, licenses, and authorizations, to facilitate foreign investment in Cuba,” stated Deborah Rivas, deputy minister of Foreign Trade and Investment (Mincex).

Among the services that this one-stop office will provide are consultancy, information, and advice to facilitate businesses set up, and the processing of registrations and licenses, as well as following company operations, she added.

New legal regulations are being drafted toward this end, which, in addition to containing the rules governing this entity, will include deadlines and unique procedures to be carried out, as well as necessary information to accompany investors at every stage.

This new legislation will be accompanied by a computer system that will connect the country and the world, and allow interested parties to follow procedural processing progress.

The one-stop services offices with be linked to this virtual space. The entity will have a director general subordinate to Mincex general management; and will also employ specialists in foreign investment, promotion, procedures, and document management technicians.

This working group will also be permanently accompanied by officials of the Institute of Physical Planning, the ministries of Construction; Science, Technology and Environment; the Interior; and Justice; as well as the national offices of Tax Administration and Statistics.

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